Claystack Introduces Best Innovative Way To Stake Crypto Asset
Have you heard about the latest way to engage in crypto staking without encountering any form of challenges? ClayStack is the latest asset staking device making headlines in the crypto world because it is seen as the best and innovative way to stake your digital asset.
Having experienced the numerous challenges attached to Crypto staking, Mohak Agarwal led his team of experts to create the most talked-about technology, which promises to bring easiness and comfort to all users.
Unveiling the challenges attached to asset staking
Crypto staking is known for its many challenges and shortcomings. First, your privacy and freedom as a token holder are completely interrupted as soon as you stake any digital assets. This is because you will be restricted from carrying out certain activities such as checking the staked assets’ performance.
The restriction can be traced to the fact that all the staked assets are stored in an escrowed contract to carry out the registration of the delegator. Though you will constantly receive the reward for staking your assets, you will be denied the chance to access your staked cryptocurrency to see how they are faring.
Another challenge attached to the asset staking practice is that you won’t be permitted to make any transaction during the staking period. The unbonding period — which is one of the staking procedures — requires all token holders to exercise patience for a considerable length of days before buying or sending their assets.
The most disappointing part of the previous staking system is that all staked cryptocurrencies automatically become ineligible to partake in many DeFi opportunities that could spring up in the nearest future. Considering the challenges mentioned earlier and disadvantages, many crypto enthusiasts often chose not to stake their assets unless forced to take such measures.
ClayStack finally provides a better and convenient staking system
The introduction of ClayStack to the crypto space is set to end the problems mentioned above by permitting users to stake their assets without being restricted or denied the chance to benefit from future freebies.
ClayStack deploys the use of relayers and oracles, which supports interchain communication with any blockchain. Hence, depositing your tokens to ClayStack smart contracts permits you to directly mint an equivalent amount of derivative token via the Ethereum chain. This implies you no longer need to wait for a long normal before making transactions with your digital assets.
You should also know that your staked tokens are deposited to WolfEdge Capital validator nodes to earn your daily rewards as derivative token holders. You can also make use of derivative or synthetic tickets in DeFi applications to improve your rewards.
Using this latest staking system equally allows you to trade or transfer your exchangeable 1:1 staking derivatives. In the same vein, liquidity providers can earn more rewards whenever they make derivatives markets liquid. With ClayStack’s support for multi-blockchain, all users can interact with many blockchains without paying an extra service charge.